What a fall for WPP as it turns to McKinsey for strategic guidance

The ad giant's slump, shareholder anger, and talk of a Havas-led bid have pushed WPP into a high-stakes reset that could reshape the global advertising industry

Haye O Rabba! What is happening at WPP?!

 

The world’s largest advertising network has just hired the world’s most famous (and expensive) consulting firm, McKinsey, to help “reset” its strategy. And almost on cue, there are media reports that say that Havas Chief Executive Officer (CEO) Yannick Bolloré has been in touch with WPP, discussing an “investment” or “consolidation”, perhaps even a buyout. Phew!

 

Let us start with the McKinsey hiring first. It is a clear signal that trouble at WPP is real. And consequently, the solutions being sought are not necessarily